(MENAFN- IMARC Group)
The latest report by IMARC Group, titled“ Vinyl Record Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032 “, The global vinyl record market size reached US$ 1.8 Billion in
2023. Looking forward, IMARC Group expects the market to reach US$ 3.4 Billion by
2032, exhibiting a growth rate (CAGR) of 7.1% during
A vinyl record, also known as“record,” is a physical audio storage medium used for playing music. It is a flat, circular disc made primarily of vinyl plastic with grooves etched into its surface. These grooves contain the analog audio information, which is played back using a stylus or needle on a turntable. Vinyl records were the primary format for music distribution from the mid-20th century until the rise of digital formats like CDs and digital downloads. They come in various sizes, but the most common are 12-inch LP (long-playing) records and 7-inch singles. The larger LPs typically contain full albums, whereas the singles feature one or two songs per side. Vinyl records are known for their warm, analog sound quality, which many audiophiles find appealing. At present, vinyl records are gaining immense traction across the globe as a beloved physical format for music enthusiasts due to their audio quality and tactile and nostalgic appeal.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/vinyl-record-market/requestsample
Vinyl Record Market Trends and Drivers:
The global vinyl record market is primarily driven by the rising consumer demand for analog and vintage music formats, with vinyl records offering a tangible and nostalgic appeal in the digital age. Moreover, the superior audio quality of vinyl and the collector value associated with rare and limited-edition records are positively influencing market growth. Additionally, the heightening popularity of vinyl records as collectibles and memorabilia, particularly among enthusiasts and audiophiles, is another major growth-inducing factor. Apart from this, the rising adoption of vinyl records by mainstream artists and the inclusion of vinyl releases in music marketing strategies are positively influencing market growth. Furthermore, the establishment of Record Store Day and other vinyl-focused events that create a sense of community and excitement around vinyl records is contributing to market growth. Other factors, including the rising aesthetic appeal of vinyl records as tangible and collectible music items, increasing vinyl records as a premium gift item, and the availability of reissued classic albums, are also anticipated to drive the market toward growth in the coming years.
The report has segmented the market into the following categories:
Breakup by Product:
LP/EP Vinyl Records Single Vinyl Records
Breakup by Feature:
Breakup by Gender:
Breakup by Age Group:
13-17 18-25 26-35 36-50 Above 50
Breakup by Application:
Breakup by Distribution Channel:
Supermarkets and Hypermarkets Independent Retailers Online Stores Others
Market Breakup by Region:
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
Competitive Landscape with Key Player:
GZ Media Implant Media Pty Ltd. Independent Record Pressing MPO International (Aker Solutions) Optimal Media (Brand Networks) Prime Disc International Limited Quality Record Pressings Record Manufacturing Record Industry Pallas Group Stereodisk LLC United Record Pressing
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
134 N 4th St. Brooklyn, NY 11249, USA
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 |United Kingdom: +44-753-713-2163
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.